The key
questions are — how long do you plan to stay
in the home, when do you want to pay off the mortgage or sell the property, what will your income look like
in the next 3, 5 — 10 years — do you need better cash flow with lower
payments or a workable repayment plan to pay off the mortgage sooner — knowing the borrower's short and long term plans and financial goals is necessary to make the best options avilable — the numbers of actual cost and benefits are the answer — show the total costs of principal and interest
over 5 year
periods and the total for keeping the loan for the full term, these are the real costs and savings for the borrower.